The trading company sued now due to the Terra collapse worth $40 billion

- Jane Street
- Founded in 2000
- Quantitative trading firm
- Major cryptocurrency market maker

May 2022:

- TerraUSD (UST) loses its peg to the US dollar
- LUNA experiences hyperinflation
~$40 billion wiped out

May 7, 2022:

- Terraform removes 150 million UST from Curve 3pool
- This move was not publicly announced

Minutes later:

- An account linked to Jane Street withdraws 85 million UST
- Liquidity drains even faster
- Value declines accelerate

May 9, 2022:

- UST crashes below $0.50
- The death spiral begins
- Billions are liquidated from the market

February 2026:

- Terraform’s bankruptcy manager files a lawsuit
- U.S. Federal Court in Manhattan

Claims:

- Insider trading
- Front-running liquidity moves
- Market manipulation during the crisis
- Reducing UST exposure by hundreds of millions

Names mentioned:

- Robert Granieri (Co-founder)
- Bryce Pratt
- Michael Hwang

Bryce Pratt:

- Former intern at Terraform
- Later joined Jane Street
- Allegedly created a private chat channel

Jane Street’s response:

- Denies all allegations
- Says the collapse was caused by Terraform fraud
- Describes the lawsuit as opportunistic

One of the biggest cryptocurrency collapse cases

Now linked to one of Wall Street’s largest trading firms.

$BTC

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